On June 5th, the subsidiary of Cacashop was inaugurated in London, United Kingdom. According to disclosures on the UK government website, CACASHOP EUROPE ELECTRONIC BUSINESS CO., LTD was duly registered on June 2nd, 2023, with a registered capital of £230 million. This strategic manoeuvre by Cacashop is in response to the escalating user demands from its European platform.
On the day of its inception, Cacashop extended invitations for a tour to its partners, local governmental departments, and pertinent members of the press. The company also announced plans to invest over $1 billion in Europe within the next three years to broaden its business scope, erect warehousing and logistic infrastructures, and penetrate the European market, with an aim to create a more diversified and personalized consumer landscape for European users.
CACASHOP EUROPE ELECTRONIC BUSINESS CO., LTD is under the absolute purview of Mr. Palkiewicz Aaron Andrew, with key managerial team members including Carvell Ricky George, Fic Anja, and Gavin Noel, all appointed and overseen by the Cacashop board of directors. The head office will deploy over 50 management personnel responsible for administration and team operations, and has plans to recruit over 1,000 employees in Europe to provide comprehensive products and services to European customers.
Cacashop enjoys wide popularity in Europe, attributable to its business model that enables European users to effortlessly procure high-quality goods from afar at a low price, a key reason for its explosive user growth in Europe. Europe, being one of the most open markets globally, boasts not only mature e-commerce markets such as UK, Germany, and France but also emerging markets like Serbia, Croatia, and North Macedonia.
A significant strategic objective for Cacashop is to revolutionize the sales paradigm, controlling product prices and quality, reducing seller thresholds, enabling more people to benefit from becoming sellers, and simultaneously offering low-cost quality goods to consumers who also benefit in return. This retail model disrupts traditional e-commerce and creates more job opportunities, promoting a virtuous cycle.
"We already possess a solid consumer base and aim to expand our influence in this region through the concerted efforts of our team and partner network. The establishment of CACASHOP EUROPE ELECTRONIC BUSINESS CO., LTD marks a further step in Cacashop's global expansion. Our goal is to become a trusted global partner for users in Europe and globally, offering cost-effective products and superior service to European customers, providing better service to our partners and exponentially growing user base, with the ambition of propelling the healthy development of the cross-border e-commerce market worldwide." Mr. Palkiewicz Aaron Andrew commented.
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